6 false false false false false false false false false true false false false false false false No description of principal activity 2022-10-01 Sage Accounts Production Advanced 2021 - FRS102_2021 45,000 18,000 4,500 22,500 22,500 27,000 xbrli:pure xbrli:shares iso4217:GBP 04736762 2022-10-01 2023-09-30 04736762 2023-09-30 04736762 2022-09-30 04736762 2021-10-01 2022-09-30 04736762 2022-09-30 04736762 core:FurnitureFittings 2022-10-01 2023-09-30 04736762 bus:Director3 2022-10-01 2023-09-30 04736762 core:FurnitureFittings 2022-09-30 04736762 core:FurnitureFittings 2023-09-30 04736762 core:WithinOneYear 2023-09-30 04736762 core:WithinOneYear 2022-09-30 04736762 core:AfterOneYear 2022-09-30 04736762 core:ShareCapital 2023-09-30 04736762 core:ShareCapital 2022-09-30 04736762 core:SharePremium 2023-09-30 04736762 core:SharePremium 2022-09-30 04736762 core:RetainedEarningsAccumulatedLosses 2023-09-30 04736762 core:RetainedEarningsAccumulatedLosses 2022-09-30 04736762 core:BetweenOneFiveYears 2022-09-30 04736762 bus:SmallEntities 2022-10-01 2023-09-30 04736762 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 04736762 bus:FullAccounts 2022-10-01 2023-09-30 04736762 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 04736762 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 04736762 core:CustomerRelationships 2022-10-01 2023-09-30 04736762 core:OfficeEquipment 2022-10-01 2023-09-30 04736762 core:CustomerRelationships 2023-09-30 04736762 core:CustomerRelationships 2022-09-30 04736762 core:OfficeEquipment 2022-09-30 04736762 core:OfficeEquipment 2023-09-30 04736762 core:AfterOneYear 2022-10-01 2023-09-30
COMPANY REGISTRATION NUMBER: 04736762
Worldwide Escapes Limited
Filleted Unaudited Financial Statements
30 September 2023
Worldwide Escapes Limited
Balance Sheet
30 September 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
22,500
27,000
Tangible assets
6
1,206
952
--------
--------
23,706
27,952
Current assets
Debtors
7
35,465
26,980
Cash at bank and in hand
681,334
916,659
---------
---------
716,799
943,639
Creditors: amounts falling due within one year
8
249,727
314,234
---------
---------
Net current assets
467,072
629,405
---------
---------
Total assets less current liabilities
490,778
657,357
Creditors: amounts falling due after more than one year
9
111,747
---------
---------
Net assets
490,778
545,610
---------
---------
Capital and reserves
Called up share capital
100
100
Share premium account
49,900
49,900
Profit and loss account
440,778
495,610
---------
---------
Shareholders funds
490,778
545,610
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income (including profit and loss account) has not been delivered.
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Worldwide Escapes Limited
Balance Sheet (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 19 March 2024 , and are signed on behalf of the board by:
Mr J W Weaver
Director
Company registration number: 04736762
Worldwide Escapes Limited
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17 London Road, Alderley Edge, Cheshire, SK9 7JT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no material judgements, estimates or assumptions .
Revenue recognition
The turnover shown in the profit and loss account represents amounts received from customers during the year, exclusive of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Customer base
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & fittings
-
25% straight line
Office equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2022: 6 ).
5. Intangible assets
Customer relationships
£
Cost
At 1 October 2022 and 30 September 2023
45,000
--------
Amortisation
At 1 October 2022
18,000
Charge for the year
4,500
--------
At 30 September 2023
22,500
--------
Carrying amount
At 30 September 2023
22,500
--------
At 30 September 2022
27,000
--------
6. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 October 2022
142,543
39,932
182,475
Additions
1,497
1,497
---------
--------
---------
At 30 September 2023
142,543
41,429
183,972
---------
--------
---------
Depreciation
At 1 October 2022
142,543
38,980
181,523
Charge for the year
1,243
1,243
---------
--------
---------
At 30 September 2023
142,543
40,223
182,766
---------
--------
---------
Carrying amount
At 30 September 2023
1,206
1,206
---------
--------
---------
At 30 September 2022
952
952
---------
--------
---------
7. Debtors
2023
2022
£
£
Amounts owed by related parties
4,000
Other debtors
35,465
22,980
--------
--------
35,465
26,980
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
182,178
198,303
Corporation tax
56,148
74,899
Social security and other taxes
3,056
14,916
Other creditors
8,345
26,116
---------
---------
249,727
314,234
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
111,747
----
---------
The bank loan repaid during the year was repayable in 54 monthly instalments commencing April 2021, with interest rate at 3.93% above base rate, and secured by a debenture over the property, assets and rights of the company.
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Later than 1 year and not later than 5 years
20,416
----
--------
11. Directors' advances, credits and guarantees
As at 30 September 2023, £302 (2022 £302) was outstanding in respect of the loan to the director, but repaid before 29 February 2024.
12. Reserves
The only movement in the profit and loss account during the year is in respect of the profit for the year and dividends paid. All of the profit and loss account is distributable.